Yahoo dropped 4.7 per cent as it reported an annual loss of US$4.4 billion, announced it was cutting 15 per cent of its workforce and suggested it could seek a deal to sell or merge the company.

Wells Fargo shed 1.8 per cent after announcing a preliminary agreement to pay US$1.2 billion to settle charges by US government authorities that it improperly certified loans for a federal mortgage insurance program.

Chipotle Mexican Grill lost 2.9 per cent as it reported a 44 per cent decline in fourth-quarter earnings to US$67.9 million after a pair of E. coli outbreaks depressed sales. Investment bank Jefferies warned of a "possible long road to recovery." Comcast rose 6.0 per cent after it hiked its dividend by 10 per cent and authorized an additional US$10 billion in share repurchases. Net income for the fourth quarter rose 2.4 per cent to US$2.0 billion.

US home improvement retailer Lowe's fell 6.2 per cent on news it will acquire Canadian rival Rona for about US$2.3 billion.

Food company Mondelez International slumped 6.5 per cent after reporting a US$728 million loss in the fourth quarter, mainly due to an accounting charge related to its struggling Venezuela operations.

AFP

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